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Queench, Inc. has announced it will purchase 25 percent of Penta Water for $10 million in cash and stock.
A privately held company based in Carlsbad, Calif., Penta Water utilizes a seven-step purification process that removes all impurities and chemicals. Within its unique filtration model, Penta Water uses a patented physics process with high energy sound waves to restructure molecular clusters to aid the body in absorption.
Founded in April of 1999, Penta Water has become a leading brand of water in more than 3,000 health food outlets nationwide, according to Spin Scan Data. The company's audited financials reflect revenues of $11.4 million in 2003.
Future Penta Water sales will open up markets for Queench in health food channels and the healthcare provider market. This private deal will be voted in by the Queench, Inc. Board of Directors before March 1, and thereafter Penta Water will bear the Queench logo as a Queench, Inc. branded product.
"Penta water looks forward to providing manufacturing and support of our product into Queench's military channels not currently serviced by Penta," said William D. Halloway, Penta's chairman and CEO.
In addition to retail outlets, the company's Health Practitioner Program (HPP) provides Penta Water to more than 700 medical doctors, nutritionists, chiropractors, physical therapists, acupuncturists, and other healthcare professionals nationwide.
In addition, during 2003 Penta entered into several grocery and drug regional chains and has plans to increase to 5000 stores nationwide by the end of 2004. Penta also has distributors in the UK, Canada, Italy and Australia.
Presently, Ike Gill is Chief Operating Officer of Penta Water (Bio-Hydration Research Lab) and is a Bottled Water Industry veteran. Gill brought to the company 18 years of experience, including the same leadership and expertise that sparked $1.1 billion in sales through Dannon Waters of North America.